AIG Asia finalizing acquisition of Philamlife

MAKATI CITY Philippines - The American International Assurance Co. Ltd. the Asian arm of the beleaguered American International Group Inc. is finalizing the acquisition of Philippine American Life and General Insurance AIG's insurance unit in the Philippines.In contrast to its parent firm which is experiencing financial difficulties Philamlife reported a robust net income of 3.3 billion pesos ($67.96 million) in 2008 reflecting a record 186.6% growth from the previous year . . .

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